Mexico Housing Hits U.S. Investors as Plan Collapses for Bloomberg Magazine

Mexico Housing Hits U.S. Investors as Plan Collapses for Bloomberg Markets Magazine

Three years into her home-ownership dream, Martha Orozco has had enough. Stuck in a government-sponsored complex called Parque San Mateo that’s two hours away from her $8,000-a-year job as a hospital secretary in Mexico City, Orozco sees only broken promises and blight all around her. Power outages drag on for hours at a time. Neighboring townhouses lie abandoned by the hundreds, giving criminals a growing foothold in the community. The stench of overflowing sewage permeates the development. And then there’s the commute: Until Orozco started driving to work, it was a van-to-train-to-bus odyssey whose cost consumed 20 percent of her pay. Full article here